Property + Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06713290 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

Property + Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs A D Quinn

REGISTERED OFFICE:

3 Offley Road

Sandbach

Cheshire

CW11 1GY

REGISTERED NUMBER:

06713290 (England and Wales)

CURRENT ASSETS

Debtors

5

2,974

6,776

Cash at bank

6,332

10

9,306

6,786

CREDITORS

Amounts falling due within one year

6

(8,903

)

(6,647

)

NET CURRENT ASSETS

403

139

TOTAL ASSETS LESS CURRENT LIABILITIES

403

139

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

303

39

SHAREHOLDERS' FUNDS

403

139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 25 July 2019 and were signed by:

Mrs A D Quinn - Director

1.	STATUTORY INFORMATION

Property + Limited ('The Company') is primarily engaged in consultancy.

The company is a private company limited by shares and is incorporated in England and Wales. The address of

the principle place of business and the registered office is 3 Offley Road, Sandbach, Cheshire, CW11 1GY. The

registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation

The financial statements are prepared on the going concern basis under the historical cost convention and comply

with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern

No other material uncertainties that may cast significant doubt about the ability of the company to continue as a

going concern have been identified by the director.

On this basis the director considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment

losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their

estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in

circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for

the amount by which the assets carrying amount exceeds its recoverable amount.

Computer equipment

- 33% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of

financial position date.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank

loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted

amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of assets

Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each

statement of financial position date. If such indications exists the recoverable amount of the asset or the assets

cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the

appropriate heading.

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2017

and 31 October 2018

500

DEPRECIATION

At 1 November 2017

and 31 October 2018

500

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

2,974

2,974

Directors' loan accounts

-

3,802

2,974

6,776

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

8,450

6,647

Directors' loan accounts

453

-

8,903

6,647

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2018 and

31 October 2017:

2018

2017

£

£

Mrs A D Quinn

Balance outstanding at start of year

3,802

447

Amounts repaid

(3,802

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,802